Category: penalties
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I’m over 59 ½ and Did a Roth Conversion Over 5 Years Ago. Should I Worry About Taxes and Penalties?
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I have had a Roth IRA and a traditional IRA for over five years and want to start converting my traditional IRA to a Roth IRA. My belief is that I can start withdrawing the converted funds without any penalty, since the Roth has been open for over five years…
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HMRC imposes £13.7 million in penalties following National Minimum Wage enforcement action
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HMRC has strengthened its enforcement of compliance with the National Minimum Wage (NMW), resulting in £13.7 million in fines being imposed on employers during the 2022/23 tax year. This enforcement push follows the Government’s increased focus on NMW breaches, supported by a doubling of HMRC’s enforcement budget to £27.8 million…
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Companies House introduces new penalties to boost compliance and corporate transparency
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Companies House has implemented a new sanctions regime aimed at improving compliance and transparency at the UK companies register, with a focus on cracking down on abuse and economic crime. Registered companies are urged to fulfill their legal obligations, such as submitting confirmation statements in a timely manner, to avoid…